Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Avaii Wealth Management LLC

Avaii Wealth Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,605 shares of the electric vehicle producer’s stock after purchasing an additional 210 shares during the quarter. Tesla accounts for approximately 0.5% of Avaii Wealth Management LLC’s portfolio, making the stock its 29th biggest position. Avaii Wealth Management LLC’s holdings in Tesla were worth $943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank & Trust Co purchased a new position in Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Clean Yield Group boosted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Finally, M&R Capital Management Inc. boosted its stake in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ:TSLA traded down $1.71 during trading hours on Thursday, reaching $219.62. 23,736,799 shares of the company traded hands, compared to its average volume of 94,454,711. The firm’s 50-day moving average is $226.81 and its 200-day moving average is $204.69. The stock has a market cap of $701.61 billion, a P/E ratio of 61.73, a P/E/G ratio of 5.94 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 EPS. Equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSLA. Stifel Nicolaus assumed coverage on Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. TD Cowen raised their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. William Blair began coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $210.72.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is owned by insiders.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.